反向收购上市
- 网络Reverse Merger;RTO-reverse takeover;reverse take over
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由于IPO高门槛再加上上市公司拥有的众多特权,使得反向收购上市成为企业首选的上市融资捷径。
Because of the high standard of IPO and many privileges of listed company , the reverse acquisition of listed enterprises becomes the preferred shortcut of listing and financing .
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总的来说,不论从短期还长期影响,样本企业反向收购上市后的绩效水平要高于反向收购上市之前的。
Generally , no matter short-term or long-term impacts , after reverse acquisition , sample enterprises ' performance level is higher than before the RTO .
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委员会在整理监管文档后发布了一份报告,报告显示,过去3年内,共有215家在中国有业务的公司在美国交易所上市,且绝大多数公司都是通过反向收购上市。
The board scoured regulatory filings to produce a report which found that , over three years , 215 companies with operations in China listed on us exchanges and a majority of the companies came to list through reverse mergers .
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在1993至2013年间,来自中国大陆和香港的168家企业在美国的正规股票交易所公开发行上市,其中不包括那些声名狼藉的通过反向收购模式上市的公司。
Between 1993 and 2013 168 companies from Hong Kong and China went public on organised stock exchanges in the US , not including those notorious reverse mergers .
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今年早些时候,一些通过反向收购在美上市的中国公司成为卖空者的目标。这些卖空者认为,美国审计机构不具备恰当的能力,对这些公司在中国的运营状况进行监控。
Earlier this year , a number of Chinese companies that had gone public via reverse mergers were targeted by short sellers who believed that US auditors were not able properly to monitor these companies ' Chinese operations .
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因此,反向收购,也称借壳上市,由于其周期短、上市成功有保障、费用相对较低,越来越引起人们的关注。
Therefore , reverse merger , also called " backdoor listing ", with its short cycle , successful security , relatively low cost , has more and more caused the attention of people .